Last night we received a great educational experience courtesy of Michael Kass from the Nonprofit Finance Fund. His workshop on financial literacy is critical to the understanding of the money mechanics inside a community benefit organization. One of the problems present in the CBO sector is the lack of knowledge in financial literacy, this workshop worked on making us understand the details of a balance sheet and a budget. A balance sheet reflects the health of the organization and when it is done properly it should depict that information a board member could discern at a glance. I learned there are three types of assets unrestricted, temporarily restricted, and permanently restricted. Each one provides its own function, unrestricted assets are available to use to cover organizational operations while temporarily restricted assets are reserved primarily for programs and services. Kass also taught us the proper manner to itemize items in a budget, our wording and categorizing could have a profound effect in measuring the health and status of the organization. I enjoyed Michael Kass workshop it was informational and helpful, working through case scenarios and utilizing visuals provided me with a great educational experience.